Australian inflation rate in 1941: 3.70%

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Inflation in 1941 and Its Effect on Dollar Value

Purchasing power decreased by 3.70% in 1941 compared to the previous year, 1940. On average, you would have to spend 3.70% more money in 1941 than in 1940 for the same item.

In other words, AU$1 in 1940 is equivalent in purchasing power to AU$1.04 in 1941.

The 1940 inflation rate was 3.85%. The inflation rate in 1941 was 3.70%. The 1941 inflation rate is lower compared to the average inflation rate of 4.90% per year between 1941 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1941 was 2.8. It was 2.7 in the previous year, 1940. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.


Inflation from 1940 to 1941
Average inflation rate 3.70%
Converted amount (AU$1 base) AU$1.04
Price difference (AU$1 base) AU$0.04
CPI in 1940 2.700
CPI in 1941 2.800
Inflation in 1940 3.85%
Inflation in 1941 3.70%


AUD inflation chart from 1922 to 2017


How to Calculate Inflation Rate for AU$1, 1940 to 1941

This inflation calculator uses the following inflation rate formula:

CPI in 1941CPI in 1940
×
1940 AUD value
=
1941 AUD value

Then plug in historical CPI values. The Australian CPI was 2.7 in the year 1940 and 2.8 in 1941:

2.82.7
×
AU$1
=
AU$1.04

AU$1 in 1940 has the same "purchasing power" or "buying power" as AU$1.04 in 1941.

To get the total inflation rate for the 1 years between 1940 and 1941, we use the following formula:

CPI in 1941 - CPI in 1940CPI in 1940
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

2.8 - 2.72.7
×
100
=
4%

Data Source & Citation

Raw data for these calculations comes from the government of Australia's annual (CPI) as provided by the Reserve Bank of Australia. The consumer price index was established in 1922 and is tracked by Australian Bureau of Statistics (ABS).

You may use the following MLA citation for this page: “Inflation Rate in 1941 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 17 Nov. 2018, https://www.officialdata.org/Australia-inflation-rate-in-1941.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


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